19. Amendment of section 28 of the principal enactment

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Section 28 of the principal enactment is hereby amended by the addition immediately after subsection (4) of that section of the following:-

“(5) Where any person whose turnover from every trade or business carried on by such person for any period of twelve months ending prior to April 1, 2011, does not exceed three hundred million and who has not complied with any law relating to tax as administrated by the Commissioner-General, requests that he be registered under section 10 of this Act, notwithstanding the provisions of subsection (1) of this section and subsection (2) of section 33 of this

Act, the turnover of that person for the above period shall not be assessed if such person undertakes to-

(a)

invest his past earnings from that trade or business in any business prior to March 31, 2014;

and

(b)

comply with the requirements of this Act for any subsequent period.”.

Read on from s 20